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large deal, he is at this point urgenting members of congress to work together to at least prevent taxes from going up. he had has acknowledged that there's not enough time to get a large sweeping deal done. he said yesterday, members of congress should take the days of vacation to cool offer, and gain perspective and come back ready to work to get something done. will it happen? we will have to wait and see, the clock is ticking on these negotiations. richard? >> joining us now is mark murray, he is the senior political editor. mark, when we look at the after plan-b failed, what are some of the scenarios that you worked out as we look forward to the limited days ahead of us. the first is what was laid out, it's a quick fix that you end up having. it would originate in the senate and it was no surprise that harry reid was meeting yesterday, it would be a short-term fix to prevent the fiscal cliff. the other is the grand bargain, and time is running out, it's unlikely you will get something like that, however, there's a chance that john boehner and republicans say, mr. president, the last
large deal, he is at this point urgenting members of congress to work together to at least prevent taxes from going up. he had has acknowledged that there's not enough time to get a large sweeping deal done. he said yesterday, members of congress should take the days of vacation to cool offer, and gain perspective and come back ready to work to get something done. will it happen? we will have to wait and see, the clock is ticking on these negotiations. richard? >> joining us now is mark...
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Dec 24, 2012
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the 250,000 a year tax cut plus unemployment things and it maybe can kick the can down the road. that will have consequences for the president's agenda in the next year because he wants to get immigration reform done. he wants to get a lot of other things done that really get pushed down the road if fiscal stiff is still weighing on him. >> which side has negotiated in good faith more? the political reporting we've heard is that the president is still at the table. he is saying let's get something done. john boehner is at the table saying he wants to get something done, but -- i think the white house says how is he going to pass plan a or something we negotiated on that we thought we were close on? as congressman ellison said, john boehner has a decision to make. does he bring something to the floor that was similar to that plan a, that big deal that him and the president had forged, but then probably not get a majority of his conference and potentially cost him his speakership. now, will he lose his speakership? it's something that we're sort of skeptical of because the only per
the 250,000 a year tax cut plus unemployment things and it maybe can kick the can down the road. that will have consequences for the president's agenda in the next year because he wants to get immigration reform done. he wants to get a lot of other things done that really get pushed down the road if fiscal stiff is still weighing on him. >> which side has negotiated in good faith more? the political reporting we've heard is that the president is still at the table. he is saying let's get...
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no tax increases to people below but taxes for people above. he won 60% of the voters said they were for it in the exit polls including some republicans. >> reporter: so again there is senator chuck schumer. so certainly still big topic of conversation despite the fact that everyone is now on recess. alex, yesterday we spoke to some folks who said this is really weighing on them as they enter the holiday season, as they do their christmas shopping, the uncertainty in washington kind of passing a cloud over their holiday. as for president obama, this is a working vacation, but he's clearly also relaxing quite a bit as well. he played a game of golf yesterday, went to dinner with the first lady and some friends. today, alex, partisan bickering will be put aside when many members of congress, the president, and the first lady attend a memorial service for the late senator daniel inoue held here. >> thank you so much. joining me now, national political reporter for politico david cant niece and associate editor for "roll call," david drucker. good
no tax increases to people below but taxes for people above. he won 60% of the voters said they were for it in the exit polls including some republicans. >> reporter: so again there is senator chuck schumer. so certainly still big topic of conversation despite the fact that everyone is now on recess. alex, yesterday we spoke to some folks who said this is really weighing on them as they enter the holiday season, as they do their christmas shopping, the uncertainty in washington kind of...
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do a tax cut before it expires. we have said for weeks it would be a lot easier for republicans after the tax cuts to come and vote for the 98% below and say, hey, we took the best tax cut deal we can. >> jared, i think that many in the country, and i speak to folks every day for three hours a day. i think that many were hoping for so much more. republicans and democrats, who took a look at that year-long effort, simpson-bowles, and thought it had some attractive qualities because there was equal pay. you know, the military was getting cut, entitlements were being reformed, taxes were being altered. we're nowhere near any of that now. >> put me on that list. i maybe a hard core policy wonk but we're exactly where they are. i think compromise is the only way we get from where we are to where we need go, and what i've tried to stress and the president has been good on this lately as well. we actually have an economic recovery. it's not strong yet, but it's starting to gain some traction. and the idea that you would ga
do a tax cut before it expires. we have said for weeks it would be a lot easier for republicans after the tax cuts to come and vote for the 98% below and say, hey, we took the best tax cut deal we can. >> jared, i think that many in the country, and i speak to folks every day for three hours a day. i think that many were hoping for so much more. republicans and democrats, who took a look at that year-long effort, simpson-bowles, and thought it had some attractive qualities because there...
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hasn't paid any taxes for ten years. let me him that he has paid taxes, because he hasn't. >> now reid said he got his information from a former bane investor. without any further explanation, he was awarded the maximum number of pinocchios. also u.n. ambassador susan rice has come to terms with the circumstances that led her to take her own name of of the running for secretary of state. her opening line, quite, my talking points for this evening have been provided to me and fully cleared by the intelligence community. how could this possibly go wrong? believe it or not, things took a turn for the palin later on in her speech. quote, day after day, i engage in highly substantive, highly technical negotiations with my colleagues here at the u.n. like the russians. as a matter of fact, i can see the russian mission from my house. >>> finally, did you think the holidays would come and go without seeing president obama singing "deck the halls." not so. he is back in the game. ♪ deck the halls with bows of holly ♪ ♪ fa-
hasn't paid any taxes for ten years. let me him that he has paid taxes, because he hasn't. >> now reid said he got his information from a former bane investor. without any further explanation, he was awarded the maximum number of pinocchios. also u.n. ambassador susan rice has come to terms with the circumstances that led her to take her own name of of the running for secretary of state. her opening line, quite, my talking points for this evening have been provided to me and fully cleared...
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the payroll tax holiday. maybe you don't give the whole amount, just part of it. it adds up to $200 billion so the economy continues to grow. then the debt reduction is raised by february. >> mr. davis. he started his comment about solving this saying you have to take the politics out of it. it's not possible at this point. even though the deal, everything you heard from him, you may have agreed with and go along with it. how are you going to take the politics out of it with the clock ticking? >> if you don't get an agreement, it's going to hurt both parties. somebody may have the advantage today and tomorrow in the news headlines, if this doesn't happen, it hurts the president's legacy, it hardens the lines between them. this is not, as joe said, complicated to solve over the short term. long term, a little more complicated. if they can't get through this, it makes it much more difficult over the long term. >> to both of you here, you heard something the president said. david gregory pushed back on the presi
the payroll tax holiday. maybe you don't give the whole amount, just part of it. it adds up to $200 billion so the economy continues to grow. then the debt reduction is raised by february. >> mr. davis. he started his comment about solving this saying you have to take the politics out of it. it's not possible at this point. even though the deal, everything you heard from him, you may have agreed with and go along with it. how are you going to take the politics out of it with the clock...
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>> well, the thing that will get them piqued is that tax rates. obama is preferring a $250,000 threshold, but in the process of trying to hammer out the deal, it is raised to $400,000 or $500,0 $500,000, and the base is going to be angry about that, and that is offset by satisfaction that some of the entitlement reforms that the president had signed off on earlier such as changing the structure for social security will not likely be in this deal, and obviously, everything remains to be seen, and the estate tax is a big sticking point, because obama wants to see it go up, and the senate republicans will insist that it stay at the current rate. >> thank you, robert costa and sam stein. we will be back in a moment. this is "hardball," the place for politics. >>> welcome back to hardball. what will a deal look like if there is one? and who is going to wind up giving up more on the tax cuts for wealthy americans? harry reid insists $250,000 is a threshold, but it may not hold. joining me now is josh green of bloomberg business week. josh, for the marke
>> well, the thing that will get them piqued is that tax rates. obama is preferring a $250,000 threshold, but in the process of trying to hammer out the deal, it is raised to $400,000 or $500,0 $500,000, and the base is going to be angry about that, and that is offset by satisfaction that some of the entitlement reforms that the president had signed off on earlier such as changing the structure for social security will not likely be in this deal, and obviously, everything remains to be...
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estate tax, that's a big sticking point. the senate republicans will insist it sticks at its current rate. >> thank you. we'll be back in a moment. this is "hard ball," the place for politics. [ buzzing ] for politics. bye dad. drive safe. k. love you. [ chirping, buzzing continues ] [ horn honks ] [ buzzing continues ] [ male announcer ] the sprint drive first app. blocks and replies to texts while you drive. we can live without the &. visit sprint.com/drive. starts with arthritis pain and a choice. take tylenol or take aleve, the #1 recommended pain reliever by orthopedic doctors. just two aleve can keep pain away all day. back to the news. "are you a cool mom?" i'm gonna find out. [ female announcer ] swiffer wetjet's pads are better than ever. now they have the scrubbing power of mr. clean magic eraser so you don't have to get down on your hands and knees to scrub away tough, dried-on stains. hey, do you guys think i'm "momtacular" or "momtrocious"? ♪ [ female announcer ] swiffer. now with the scrubbing power of mr. cl
estate tax, that's a big sticking point. the senate republicans will insist it sticks at its current rate. >> thank you. we'll be back in a moment. this is "hard ball," the place for politics. [ buzzing ] for politics. bye dad. drive safe. k. love you. [ chirping, buzzing continues ] [ horn honks ] [ buzzing continues ] [ male announcer ] the sprint drive first app. blocks and replies to texts while you drive. we can live without the &. visit sprint.com/drive. starts with...
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not through any tax breaks or anything like that. but through getting back to work and getting their paychecks back up. that's what they want to do. >> now, governor, you have had to deal with people of opposing parties. you've had to compromise. you've seen them compromise. that's what government does. but when you get inflexible people that seem to not understand the pain of the ordinary american, how do you break this gridlock? >> well, it's very hard. and the point you made, rev, is a very good one. the president did move with entitlements and it did anger a cig n significant portion of his base. but the president agrees that you can't set this nation's economy on a healthy path that cease going to take care of our deficit and make it a managinin bart of gdp. he knows we can't asked the republicans to raise it 1.2, 1.3 trillion in revenue. he's reached out and made cig nif kant concessions and the response to that was nothing. it is pathetic. >> jaret, let me ask you, if we go over the cliff, what ps? is there not an immediate im
not through any tax breaks or anything like that. but through getting back to work and getting their paychecks back up. that's what they want to do. >> now, governor, you have had to deal with people of opposing parties. you've had to compromise. you've seen them compromise. that's what government does. but when you get inflexible people that seem to not understand the pain of the ordinary american, how do you break this gridlock? >> well, it's very hard. and the point you made,...
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if they're not going to agree to a tax -- holding taxes down for those under a million dollars, they're definitely not dealing with $400,000 so, therefore, let's go back to the $250,000. i think that hurt them, boehner. i think that's why boehner is being controlled, unfortunately, by the right wing. i agree with bernie sanders. very sad. i believe that boehner's a good man and wants a deal done and impossible with these folks. >> the finger's not only pointed at the republicans and the tea party caucus but also to some democrats. here's one of your republican colleagues this morning. take a listen to what she said. >> sure. >> everything -- it's just about scoring political points and i know that the american people are tired of that. they're tired of all of us. i understand that. we just make -- used car sales men look good. that's the only group below us. we have to get our act together and prove to the american people that we can regain the trust that they once had in us and get the job done. >> yeah. the perception -- go ahead, please, congressman. looking at the can kicked down th
if they're not going to agree to a tax -- holding taxes down for those under a million dollars, they're definitely not dealing with $400,000 so, therefore, let's go back to the $250,000. i think that hurt them, boehner. i think that's why boehner is being controlled, unfortunately, by the right wing. i agree with bernie sanders. very sad. i believe that boehner's a good man and wants a deal done and impossible with these folks. >> the finger's not only pointed at the republicans and the...
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whose taxes will go up? people who earn more than 250,000 a year or people who earn more than 450,000 a year? republicans want to see the 450,000 threshold and democrats, 250,000. you need a few republicans in the house and democrats in the senate. it's more likely to be the 400,000 threshold. something the president offered. what does this do about taxes on inherited estates? currently, an estate worth $5 million or more gets taxed at a 35% rate. will that stay or change at all? and all of the automatic budget cuts we've deputy talking about for a year. nothing that would suggest that something will come up, later perhaps by march when they talk about the debt ceiling. >> he's talking about later in march, talking about a small deal being done now, which means we have to be back doing this all over again. >> yeah, the only thing on the table at this point are the tax rates extending bush tax cuts and a whole suite of things that were part of the fiscal cliff that aren't going to be touched. we'll have the d
whose taxes will go up? people who earn more than 250,000 a year or people who earn more than 450,000 a year? republicans want to see the 450,000 threshold and democrats, 250,000. you need a few republicans in the house and democrats in the senate. it's more likely to be the 400,000 threshold. something the president offered. what does this do about taxes on inherited estates? currently, an estate worth $5 million or more gets taxed at a 35% rate. will that stay or change at all? and all of the...
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estate tax, maybe not. the important though, i think, is mcconnell and the senate is important, but ultimately john boehner has said he wants the majority of republican members of the house to vote for whatever deal happens. that's a key factor. they have to agree to something that president obama also agrees to. that's a big gap. basically he's -- i don't know that there's 120 house republican votes for that yet. plan b was voted on, a -- house republicans wouldn't approve of that, either. the how is like a big block here on any kind of permanent deal. >>> i want to bring in debbie wasserman schultz, florida democrat and head of the dnc. congresswoman, when you look at what's happening today, you know, this meeting that's going to be happening at 3:00 p.m., what's going to be talked about there, what do you think? >> look, as long as the leaders are talking, there is still time for us to hammer out a deand prevent us from going over the fiscal cliff. what will be talked about today is what do the outlines
estate tax, maybe not. the important though, i think, is mcconnell and the senate is important, but ultimately john boehner has said he wants the majority of republican members of the house to vote for whatever deal happens. that's a key factor. they have to agree to something that president obama also agrees to. that's a big gap. basically he's -- i don't know that there's 120 house republican votes for that yet. plan b was voted on, a -- house republicans wouldn't approve of that, either. the...
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seems to be a vote on taxes. democrats will be able to pocket taxes, but it will be separate from spendsing cuts from the outset and then likely there will be another set of negotiations after the new year that will have spending cuts and taxes in it. that sounds like a recipe for democrats getting more in taxes than they would have with an up front deal. are your colleagues worried about that at all or are you? >> first of all, you are enlightening me so something that i was not aware of. that was not the conversation i had with my colleagues across the aisle or with the minority leader. so, you have information that i don't have. look, we cannot solve the problem with taxes you have to do both. this country is in trouble fiscally and financially as well as ratings. if we do not do something significant, we will have a rating problem. and there will come a time that we cannot afford the interest. what is the best thing that we can do now, given the political dynamics in washington that actually makes difference
seems to be a vote on taxes. democrats will be able to pocket taxes, but it will be separate from spendsing cuts from the outset and then likely there will be another set of negotiations after the new year that will have spending cuts and taxes in it. that sounds like a recipe for democrats getting more in taxes than they would have with an up front deal. are your colleagues worried about that at all or are you? >> first of all, you are enlightening me so something that i was not aware...
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tax cuts. but this is what we could get. i was out there fighting for you. that's how you win reelection. >> now, ryan, if, in fact, we go over the cliff, they go back home, they make these political statements to their constituents, they come back and pass something in the interim, some people are damaged, the most vulnerable damaged, will there be, do you feel, a political price to pay? or do they think by the time 14 comes around, it will be all forgotten? >> i mean, that's a good question. it's so hard to know, you know, what the landscape is going to be like in 14. f but there's no question that republicans are going to take a hi and they know that they're going to take a hit if this goes over the cliff. in fact, they've already taken a hit just for dragging it up. polls show that overwhelmingly, people will blame republicans for the negative consequences of this. actually, the unemployed are already getting hit. it inspires today. they don't get until january 1st. so for them, the cliff c
tax cuts. but this is what we could get. i was out there fighting for you. that's how you win reelection. >> now, ryan, if, in fact, we go over the cliff, they go back home, they make these political statements to their constituents, they come back and pass something in the interim, some people are damaged, the most vulnerable damaged, will there be, do you feel, a political price to pay? or do they think by the time 14 comes around, it will be all forgotten? >> i mean, that's a...
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we don't want to raise taxes on anybody. we don't want to raise taxes on millionaires. we don't want the raise taxes on people who make $50,000 or $20,000. that's a core principle because the problem with the budget is spending. >> you have the final word. i've got run, unfortunately. but think thank you, joy reid. >> thank you, stephen moore. >> thank you. >> thank you. >> when we return, let me finish "zero dark thirty," the great movie about getting bin laden, and the difference one person can make. you're watching "hardball," the place for politics. >>> last night here in new york city i saw the movie "zero dark thirty." the film gets its wide release on january 11. i thought it lived up to the hype. the catherine bigelow movie about the takedown of bin laden was spell binding, epithet conclusion, even though you know how it ends. but much of the advance attention has been focused on how the movie begins, the graphic depiction of an al qaeda prisoner being harshly interrogated. earlier this week three u.s. senators took issue with that sequence. they fear that ameri
we don't want to raise taxes on anybody. we don't want to raise taxes on millionaires. we don't want the raise taxes on people who make $50,000 or $20,000. that's a core principle because the problem with the budget is spending. >> you have the final word. i've got run, unfortunately. but think thank you, joy reid. >> thank you, stephen moore. >> thank you. >> thank you. >> when we return, let me finish "zero dark thirty," the great movie about getting...
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and the estate tax. it goes on. it goes on. it goes on. why, david jackson, haven't people started screaming from the streets and screaming from the rooftops about what this mean, this is a manufactured crisis. >> well, they haven't felt it in their paycheck and they will after january 1. the government will be taking more out of their paychecks and when the tax time will roll by in april, they'll feel it and businesses will feel it. once people will see they're losing money on this deal you'll see more public outrage about it. >> david naka, mura, calling for an up or down vote if the senate can't come up with it. he's talking about 250,000, at one point 400,000. is it realistic to think that the president can win this thing on an up or down vote? >> if they actually go to an up and down vote there will be a lot of pressure on those who were against a temporary fix with this to make their case known and actually go on the record. that's why the question is would the republican senators who would oppose
and the estate tax. it goes on. it goes on. it goes on. why, david jackson, haven't people started screaming from the streets and screaming from the rooftops about what this mean, this is a manufactured crisis. >> well, they haven't felt it in their paycheck and they will after january 1. the government will be taking more out of their paychecks and when the tax time will roll by in april, they'll feel it and businesses will feel it. once people will see they're losing money on this deal...
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so you need policy consensus, some tax reduction, some investment and education, and some tax breaks that will help sort of states specialize in different industries and attract them. >> let's end where we started. some criticisms coming out from ips saying the president has left some things on the table here. the estate taxes one of those that they bring to bear here. they also talk about hedge fund managers specifically being ability to get favorable tax rates there, too. how has the administration done with this? >> it's sort of paralysis on this issue. you know, the administration -- the republicans -- what we seed with a fiscal cliff and what we saw in our series is the ability to create consense politically is hurting us tremendously, economically. the earlier guest was talking about how these are self-inflected problems, and that's what's happening. tax rates will go up across the board. the condition does look like it will slip back, and it's a global change in the economy. again people with skills competing globally and doing very very well at the top. we're not addressing f
so you need policy consensus, some tax reduction, some investment and education, and some tax breaks that will help sort of states specialize in different industries and attract them. >> let's end where we started. some criticisms coming out from ips saying the president has left some things on the table here. the estate taxes one of those that they bring to bear here. they also talk about hedge fund managers specifically being ability to get favorable tax rates there, too. how has the...
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i think the payroll tax was so for the making tax credit. so when that wasn't renewed that was the best option. i think the payroll tax cut is the best option. i feel like i'm one note on this but to go back to what i said earlier. ultimately, what will keep social security sustainable is the rate of growth in the economy. and i had to trade a couple more years of reduced revenue for social security for more growth, i think more growth is the right trade to make. i'm worried -- a lot of worrying about if we keep the payroll tax low or we lose money for social security over the long term? probably, but i think it's offset by the additional growth you get from just having lower unemployment and faster gdp growth and the whole nine yards. >> one thing that the way they have deviced the payroll tax holiday, they say technically speaking they're not taking money from social security. they're replacing it with money from the general budget. so you never actually have, a gap. but the concern is that that ends up lumping together social security, wh
i think the payroll tax was so for the making tax credit. so when that wasn't renewed that was the best option. i think the payroll tax cut is the best option. i feel like i'm one note on this but to go back to what i said earlier. ultimately, what will keep social security sustainable is the rate of growth in the economy. and i had to trade a couple more years of reduced revenue for social security for more growth, i think more growth is the right trade to make. i'm worried -- a lot of...
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take the tax issue -- give the president his tax hike on the rich now. fight him on everything else when taxes aren't part of the conversation. fight him on everything else in six weeks when the debt ceiling is hit or eight weeks, 12 weeks, whenever that fight happens, and do that. i do think that mcconnell -- that's where he wants to be. can he get there in the next 24 hours? that's what we don't know. >> tom brokaw? >> well, it seems to me that the middle class is going to have a date for the prom. everybody is talking about protecting the middle class here. so i think this deal will probably get done around the middle class tax cut. it's at what level. $400,000 or $250,000 or some other number. which is going to be critically important. a lot of people don't realize in a large urban and suburban areas of america, $250,000 doesn't make you rich. have you two kids in college at $60,000. if you're a boomer, you may have a dependent parent of some kind. spending another $20,000 or $25,000 on that. you have to have a definition of what is the middle class.
take the tax issue -- give the president his tax hike on the rich now. fight him on everything else when taxes aren't part of the conversation. fight him on everything else in six weeks when the debt ceiling is hit or eight weeks, 12 weeks, whenever that fight happens, and do that. i do think that mcconnell -- that's where he wants to be. can he get there in the next 24 hours? that's what we don't know. >> tom brokaw? >> well, it seems to me that the middle class is going to have a...
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all the tax cuts including the tax cuts for the wealthy expire on january 1. so that is sort of a short term advantage. these programs, medicare, social security are incredibly popular. cutting them is unpopular. republicans' basic agenda is to cut them. some want to cut them or reform them for totally good reasons that costs are rising over time and as the population ages they take up more and more of the economy and more government spending. they are at a strategic disadvantage which is they want to cut programs that are incredib incredibly popular. anytime you are set against the consensus of public opinion it is a difficult course. you have to acknowledge that reality. as long as obama and democrats have that they will have the leverage as we repeat the negotiations in the decades to come. >> thank you for joining me. stick around we will be speaking with you two later this hour. >>> coming up the republican who is not afraid to stand up to his own party joins us live. what does he make of the sudden turn in the fiscal talks? is there still time to hammer
all the tax cuts including the tax cuts for the wealthy expire on january 1. so that is sort of a short term advantage. these programs, medicare, social security are incredibly popular. cutting them is unpopular. republicans' basic agenda is to cut them. some want to cut them or reform them for totally good reasons that costs are rising over time and as the population ages they take up more and more of the economy and more government spending. they are at a strategic disadvantage which is they...
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i don't think we ought to increase taxes on anyone. however, we're now at a point where we're not going to get what we think is right for our economy and our country. >> with congress coming back, the president will also reportedly cut short his holiday vacation in hawaii. democrats hope mr. obama will continue to fight for a complete agreement, not just a temporary patch. >> i definitely hope that he can and will continue to push for as big a deal as possible, but you've got to remember now, we're just a few days away. >> if no deal is reached over 2 million americans will lose their jobless benefits and workers will see a 2% cut in take home pay as social security payroll taxes go up january 1st. jennifer johnson, nbc news, washington. >> well, around this time of year, there is a big surprise that happens on the rockefeller center ice skating rink outside our news world headquarters. it happens about half a dozen times a day every day. erica hill has the story. >> right outside our doors at rockefeller center, home to the christmas
i don't think we ought to increase taxes on anyone. however, we're now at a point where we're not going to get what we think is right for our economy and our country. >> with congress coming back, the president will also reportedly cut short his holiday vacation in hawaii. democrats hope mr. obama will continue to fight for a complete agreement, not just a temporary patch. >> i definitely hope that he can and will continue to push for as big a deal as possible, but you've got to...
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Dec 29, 2012
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people making 40 to $65,000 get a $2,000 tax hike and anyone, would see a $14,000 tax bump. where else would americans see the sting? talk to me about medicare and unemployment benefits. >> this whole metaphor we've been using about a fiscal cliff probably isn't the right one to be used. after all, if you go over a cliff, you usually don't get to live to tell about it unless you're batman or spider-man, but there are things that actually would happen right away and one of those things that would be right away in a negative impact would be unemployment benefits and 2 million americans would see the unemployment benefits and that would hurt the economy and that would hurt these people that are relying on this and the unemployment insurance has been seen as economic stimulus to get hands into the money of people who need it and they were things that actually get spread over the course of 2013 if there is no fix that is actually done and it is possible for congress to go back and fix things and talking about the increase of tax rates and there will also be spending cuts to gover
people making 40 to $65,000 get a $2,000 tax hike and anyone, would see a $14,000 tax bump. where else would americans see the sting? talk to me about medicare and unemployment benefits. >> this whole metaphor we've been using about a fiscal cliff probably isn't the right one to be used. after all, if you go over a cliff, you usually don't get to live to tell about it unless you're batman or spider-man, but there are things that actually would happen right away and one of those things...
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Dec 26, 2012
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let's go back to the tax. your paycheck is going down 2%. everyone's taxes go up. it will really have an effect is when people get their first paycheck in january and the christmas bills are due, the average working class family will have their paycheck drop not 2% but closer to 5%. democrats see it as leverage, but it hurts real people for the short-term. >> when you talk about it, absolutely. if we go over the cliff without changing anything, this will be the end of unemployment benefits for more than two million americans. people who cannot wait a couple of months to get the money back and don't have the safety net. this is a very serious situation for some americans. on this show we have a slope and not a cliff. for some it is an immediate pain cliff situation. >> we should differentiate between the things that are really a cliff. unemployment and income taxes and the other things like the spending cuts draw out over a year. the sequester and other things. you wouldn't have to worry about that. those things can be fixed. the democrats don't have a sense of urge
let's go back to the tax. your paycheck is going down 2%. everyone's taxes go up. it will really have an effect is when people get their first paycheck in january and the christmas bills are due, the average working class family will have their paycheck drop not 2% but closer to 5%. democrats see it as leverage, but it hurts real people for the short-term. >> when you talk about it, absolutely. if we go over the cliff without changing anything, this will be the end of unemployment...
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Dec 28, 2012
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and the estate tax. and what's essentially happening here and a door open here, democrats leave the door open and expect mcconnell to make a counter offer, whatever the case may be, democrats run the place saying to mitch mcconnell, hey, if we jump off of this bridge, cliff, as it were, we're going to hold hands with you and not only bring along some republicans jumping off this cliff here but you have to make sure that john boehner comes along, too, and put something on the floor that's not going to get the majority of the majority republicans in the house of represent evs. that is the predicate, that is the condition in the senate. no one believes that john boehner will take that leap holding the hands of harry reid or mitch mcconnell, for that matter. the preponderance of opinion, the overwhelming belief and suspicion, however you want to phrase it, here in the capitol and downtown on k street is going over the cliff. only question now is how many days to extend past january 1st before they come back
and the estate tax. and what's essentially happening here and a door open here, democrats leave the door open and expect mcconnell to make a counter offer, whatever the case may be, democrats run the place saying to mitch mcconnell, hey, if we jump off of this bridge, cliff, as it were, we're going to hold hands with you and not only bring along some republicans jumping off this cliff here but you have to make sure that john boehner comes along, too, and put something on the floor that's not...
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Dec 22, 2012
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taxes shurnt go up. if they were to go up by law, conceivably they could come back in january and lower them and campaign on the fact that they lowers taxed. >> let's take a look at what speaker boehner said on friday. >> many of us believe on both sides of the aisle, the fundamental reform of our taxes will help get our economy moving faster and get more americans back to work. how we get there, god only knows. >> so the president says he's going to head back to washington after christmas to try and hammer out a deal before new year's. babe boehner said god only knows, god and ed o'keefe. how do they get there? >> for practical reasons there, are bills sitting in either chamber right now that the other chamber has passed, the house is telling the senate, pass our bill. the senate is telling the house pass our bill. either of those bills could be amended and sent back across the capitol, and make some changes, and send it back for final passage and sent send it to the president. can you get that done in
taxes shurnt go up. if they were to go up by law, conceivably they could come back in january and lower them and campaign on the fact that they lowers taxed. >> let's take a look at what speaker boehner said on friday. >> many of us believe on both sides of the aisle, the fundamental reform of our taxes will help get our economy moving faster and get more americans back to work. how we get there, god only knows. >> so the president says he's going to head back to washington...
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Dec 30, 2012
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they get $120 billion tax break. and people come forward and say we're very serious about deficit reduction. third area that we have to look at, the president wanted, as you recall a few weeks ago, $1.6 trillion in new revenue. we're now down to, as i understand it, about $600 billion. a significant reduction. if you don't have new revenue coming in from the wealthiest people, it will mean, as we go down the pike -- >> there are so many issues like, this that are -- have been originally talked about. but when push comes to shove, and it comes up to the absolute deadline and everybody is hopefully still talking tomorrow, how narrow could this deal be to get it done? >> how what? >> how narrow could this deal be? could it be just about whose taxes expire and whose don't? >> as i think some of your commentators made, people have to understand the world does not collapse in terms of the so-called deficit cliff, which many of us see as a slope. it doesn't collapse on january 1. not everybody's taxes are going up. you have
they get $120 billion tax break. and people come forward and say we're very serious about deficit reduction. third area that we have to look at, the president wanted, as you recall a few weeks ago, $1.6 trillion in new revenue. we're now down to, as i understand it, about $600 billion. a significant reduction. if you don't have new revenue coming in from the wealthiest people, it will mean, as we go down the pike -- >> there are so many issues like, this that are -- have been originally...
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Dec 22, 2012
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we don't want to raise taxes on anybody. we don't want to raise taxes on millionaires. we don't want the raise taxes on people who make $50,000 or $20,000. that's a core principle because the problem with the budget is spending. >> you have the final word. i've got run, unfortunately. but think thank you, joy reid. >> thank you, stephen moore. >> thank you. >> thank you. >> when we return, let me finish "zero dark thirty," the great movie about getting bin laden, and the difference one person can make. you're watching "hardball," the place for politics. [ male announcer ] this is bob, a regular guy with an irregular heartbeat. the usual, bob? not today. [ male announcer ] bob has afib: atrial fibrillation not caused by a heart valve problem, a condition that puts him at greater risk for a stroke. [ gps ] turn left. i don't think so. [ male announcer ] for years, bob took warfarin, and made a monthly trip to the clinic to get his blood tested. but not anymore. bob's doctor recommended a different option: once-a-day xarelto®. xarelto® is the first and only once-a-day pr
we don't want to raise taxes on anybody. we don't want to raise taxes on millionaires. we don't want the raise taxes on people who make $50,000 or $20,000. that's a core principle because the problem with the budget is spending. >> you have the final word. i've got run, unfortunately. but think thank you, joy reid. >> thank you, stephen moore. >> thank you. >> thank you. >> when we return, let me finish "zero dark thirty," the great movie about getting...
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Dec 27, 2012
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the alternative minimum tax which all of us, again, agree should not apply to 26 million americans. we agree on that. let's vote on that. let's create that certainty and move forward. let's create a path to move forward to deal with comprehensive tax policy in a fair and responsible way and let's deal with the deficit and the balance in a fair away. john boehner basically said no to all of that. and that's really not acceptable leadership. >> is there any -- should harry reid amend the bill that the house sent over at all? the fact is, harry reid has -- needs to add republican cooperation. he wants to say, look, this isn't a game. this isn't show. you know, i can bring out a bill, pass a bill. if john boehner says i'm not going to look at that, what's the point? let's make something happen here. that is what the american people are looking for. we're concerned about the fiscal and economic policies. there's a recovery period that we're experiencing to put more challenges before the economy both consumers and investors. let's create certainty. let's make sure that we pass tax cuts fo
the alternative minimum tax which all of us, again, agree should not apply to 26 million americans. we agree on that. let's vote on that. let's create that certainty and move forward. let's create a path to move forward to deal with comprehensive tax policy in a fair and responsible way and let's deal with the deficit and the balance in a fair away. john boehner basically said no to all of that. and that's really not acceptable leadership. >> is there any -- should harry reid amend the...
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Dec 27, 2012
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all the bush tax cuts expire, the payroll tax cuts expire. doctors participating in medicare, see their reimbursements cut by more than 25%. good luck getting a doctor then. more than a trillion dollars in spending cuts are triggered. the economy probably falls back into recession, and merry christmas and happy new year from washington to you, the american people. heard about the offers and the counteroffers president obama and house speaker john boehner put on the table. if you live in the game area, you're going to be reading about the cliff whether you like it or not. we at starbucks have an opportunity and i believe a responsibility to use our company's scale for good, by sending a respectful and optimistic message to our officials to come together and reach important ground. this week, through december 28th, partners at our washington, d.c., area stores are writing come together on customer's cups. i am hugely in favor of this new starbucks initiative. not because i think writing come together on coffee cups will bring anybody in washing
all the bush tax cuts expire, the payroll tax cuts expire. doctors participating in medicare, see their reimbursements cut by more than 25%. good luck getting a doctor then. more than a trillion dollars in spending cuts are triggered. the economy probably falls back into recession, and merry christmas and happy new year from washington to you, the american people. heard about the offers and the counteroffers president obama and house speaker john boehner put on the table. if you live in the...
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Dec 23, 2012
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it's not just the sequester, all the tax cuts expire. >> that includes the payroll tax cut. it helped people of lower incomes. there's a lot more on the table. >> the payroll tax cuts need to be reimposed. that is the opening to go after social security for example. but, i always thought all the bush tax cuts should expire. i think everybody should have skin in the game. i think you should have a progressive tax code. if you want to deal with the deficit problem, the two things you have to have are people working and you have to have people paying taxes. you cannot cut your way out of our deficit problem. >> quick exit question. this is a yes or no. do we get a better deal if we go over the cliff? yes or no. >> i can't do yes or no. i'm sorry. >> we have little time. >> a cliff is terrible. if there is a terrible deal proposed, then i think it's better to go over the cliff. >> take it to the brink, obama. >> don't go over the cliff. no. no. >> absolute lie not. >> we have a table divided. >>> negotiations about policy ors personalities. [ male announcer ] when it comes to th
it's not just the sequester, all the tax cuts expire. >> that includes the payroll tax cut. it helped people of lower incomes. there's a lot more on the table. >> the payroll tax cuts need to be reimposed. that is the opening to go after social security for example. but, i always thought all the bush tax cuts should expire. i think everybody should have skin in the game. i think you should have a progressive tax code. if you want to deal with the deficit problem, the two things you...
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in which case middle class taxes will not go up. if that doesn't happen, then democrats in the senate will put a bill on the floor of the senate, and republicans will have to decide if they are going to block it, which will mean that middle class taxes do go up. i don't think they would want to do that politically, but they may end up doing it. and if all else fails, if republicans do, in fact, decide to block it so that taxes on middle class families do go up on january 1st, then we'll come back with a new congress on january 4th, and the first bill that will be introduced on the floor will be to cut taxes on middle class families. and, you know, i don't think the average person is going to say, gosh, you know r, that's a real partisan agenda on the part of either the president or democrats in congress. i think people will say that makes sense because that's what the economy needs right now. so one way or another we'll get through this. do i wish that things were more orderly in washington and rational and people listened to the be
in which case middle class taxes will not go up. if that doesn't happen, then democrats in the senate will put a bill on the floor of the senate, and republicans will have to decide if they are going to block it, which will mean that middle class taxes do go up. i don't think they would want to do that politically, but they may end up doing it. and if all else fails, if republicans do, in fact, decide to block it so that taxes on middle class families do go up on january 1st, then we'll come...
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Dec 29, 2012
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cuts or not for tax cuts? so people are a little smarter than that. and a lot of members of congress are wary. so if they get democrats to vote for this, that's going to be a bipartisan deal they can all hang their hats on. but does it achieve the long-term reform the president and a lot of conservative republicans say they're looking to see in government? >> i'm really glad you said that. david she hit on something important. you can't avoid this debate. it's everywhere. but she just suggested we're not going to fall for that. you're not going to fool us. you're not going to come back and say we went off the cliff and now we're voting for taxes. we're not going to fall for that. so who is going to come out if there is a deal before january 1? who's going to come out looking into this? is anybody? who's going to come out looking bad or worse than bad? >> a couple of thimgs things, t.j. i think it depend on what the ultimate deal is and where that line for threshold on tax increases is. looking ahead to the 201
cuts or not for tax cuts? so people are a little smarter than that. and a lot of members of congress are wary. so if they get democrats to vote for this, that's going to be a bipartisan deal they can all hang their hats on. but does it achieve the long-term reform the president and a lot of conservative republicans say they're looking to see in government? >> i'm really glad you said that. david she hit on something important. you can't avoid this debate. it's everywhere. but she just...
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Dec 23, 2012
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the president ran on that platform, no tax increases pleau and taxes for people above. he won. 60% of the voters said they were for it in the exit poll, including some republicans and yet our republican colleagues by refuses to go along with revenues, are risking the fiscal cliff and make no mistake about it. if we go over, god forbid and i still don't think we have, to the american people are going to blame the republican party, and they will come right back and pass something, so i don't think the middle class is at risk because if we go over the cliff our republican colleagues will come back and say uh-oh and pass the bill we passed in the senate already. >> quick answer, could chuck hagel become the secretary of defense if he's the president's nominee? >> a lot of republicans are going to ask him hard questions, and i don't think he's going to get many republican votes. i like chuck and i didn't quite know all of his positions, outside the mainstream and well to the left of the president. the hearings will matter. >> would you support him? >> chuck will have a chanc
the president ran on that platform, no tax increases pleau and taxes for people above. he won. 60% of the voters said they were for it in the exit poll, including some republicans and yet our republican colleagues by refuses to go along with revenues, are risking the fiscal cliff and make no mistake about it. if we go over, god forbid and i still don't think we have, to the american people are going to blame the republican party, and they will come right back and pass something, so i don't...
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Dec 26, 2012
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then however it becomes no longer extending the bush tax cuts, but the obama tax cuts. president obama is associated with cutting taxes. there is political liability for them as well. the reality is they have to get off of this no tax increase nonsense. i read in the "new york times" the other day, no republican member of congress voted for it since 1990. do you believe that? we had two or three wars since that time? a tragedy at 9/11 and we had hurricane sandy. we had hurricane katrina and despite all of these, they are unwilling to raise them to support and fund our government. what does it say about the dysfunctionality? >> we will have to leave it there. happy holidays to you. joining me now on the phone, congressman gregory meeks. congressman, i just saw you downstairs in the lobby about two or three hours ago and you were waiting on a phone call to determine when you might have to go back to d.c. to hammer out fiscal cliff matters. have you gotten the call yet? >> we are still waiting. >> no word as to when you guys are going back? no sense of urgency? >> i think
then however it becomes no longer extending the bush tax cuts, but the obama tax cuts. president obama is associated with cutting taxes. there is political liability for them as well. the reality is they have to get off of this no tax increase nonsense. i read in the "new york times" the other day, no republican member of congress voted for it since 1990. do you believe that? we had two or three wars since that time? a tragedy at 9/11 and we had hurricane sandy. we had hurricane...
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Dec 22, 2012
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powers to oppose those taxes. grover norquist, who is, of course, a member of the board of the national rifle association. so the ceo of the nra took to a microphone in washington today to suggest a solution to the massacres of children in our schools and the solution is something he and his friends would not be willing to pay for. and he and his friends would attack any politician who attempted to pay for it. he reached for a variety of ways to make his point. >> we care about our money. so we protect our banks with armed guards. >> i don't know about you, but i cannot remember the last time i was in a bank that had an armed guard. all banks had them when i was a kid. and the armed guards couldn't stop bank robberies then. what stopped bank robberies in america was not armed guards. it was video cameras and automatic locking saves that cannot be opened no matter how much you scare a teller with a gun. i'm not just talking about small town banks that i go into. new york city banks do not have armed guards anymore.
powers to oppose those taxes. grover norquist, who is, of course, a member of the board of the national rifle association. so the ceo of the nra took to a microphone in washington today to suggest a solution to the massacres of children in our schools and the solution is something he and his friends would not be willing to pay for. and he and his friends would attack any politician who attempted to pay for it. he reached for a variety of ways to make his point. >> we care about our money....
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Dec 24, 2012
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the tax policy center. the annual income from somebody in the $50,000 to $75,000, about a $2,400 increase. jumping ahead to $100,000 to $200,000, the average tax increase, $6,600. tacking at that great divide of the wealthy, over $250,000, at least a $11,000 tax hike. over $1 million, more than $254,000. >> hampton, looking at that number, that's for those americans working right now. there are still struggling americans, millions looking for work and what's the fiscal cliff mean for them? >> reporter: okay. we have unemployment at 7.7% last month and mainly went down because people gave up looking for work and jdropped out of th job market and out of work six months or longer. 4.8 million americans, they're the folks worried the most about unemployment benefits not extended after the first of the year. >> as we look at that number, that's staggering for so many. we have a "the washington post" poll that indicates 74% of americans support raising taxes on the top earners in this country. with that support t
the tax policy center. the annual income from somebody in the $50,000 to $75,000, about a $2,400 increase. jumping ahead to $100,000 to $200,000, the average tax increase, $6,600. tacking at that great divide of the wealthy, over $250,000, at least a $11,000 tax hike. over $1 million, more than $254,000. >> hampton, looking at that number, that's for those americans working right now. there are still struggling americans, millions looking for work and what's the fiscal cliff mean for...
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there's a whole host of other things, $2,200, income tax, estate tax, dividend tax, all of those set to go up on americans and what is expected to be a disaster for every household. if for some reason we go over the cliff and don't do something at the beginning of january and go back retroactively and adjust the rates, krystal. >> yeah. >> peter, you said something a minute ago and significant and if there's going to be a deal, that ends up leaving some taxpayers, wealthy taxpayers, paying higher than now, it's next year for republicans to sign off on it saying it's a tax cut in some form and gives democrats to wait until next week to strike a deal and wonder besides getting what they want or most of what they want on taxes if they wait until next week, is there anything else they can get in a deal in terms of we are talking about unemployment insurance, in terms of, you know, investment income and the tax rates and stimulus and looking for more stimulus and just be a tax cut deal next week or more components to it? >> reporter: it's a good question. they're having enough struggles w
there's a whole host of other things, $2,200, income tax, estate tax, dividend tax, all of those set to go up on americans and what is expected to be a disaster for every household. if for some reason we go over the cliff and don't do something at the beginning of january and go back retroactively and adjust the rates, krystal. >> yeah. >> peter, you said something a minute ago and significant and if there's going to be a deal, that ends up leaving some taxpayers, wealthy taxpayers,...
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Dec 28, 2012
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tax bills -- and this is going to fundamentally be a tax bill when we pass it. they have to begin in the house of representatives. they can't originate in the white house. the president can't write legislation or pass it himself. the founders would have been shocked to hear congressional leaders talking this way. but put that aside. mcconnell basically said to reid i can't help on this one. how did harry reid respond? this way. >> speaker boehner should call members of the house back to washington today. he shouldn't have let them go, in fact. they're not here. they are not here. john boehner seems to care more about keeping his speakership than about keeping the nation on firm financial footing. >> right. so that's pretty much where we are now. boehner's out, mcconnell's out. reid says it's up to boehner, white house can't get boehner to talk to them. it's kind of a mess, senator schatz. and it is now part of your party. so what is the next move? there is late news tonight that president obama will convene a meeting of congressional leaders at the white house t
tax bills -- and this is going to fundamentally be a tax bill when we pass it. they have to begin in the house of representatives. they can't originate in the white house. the president can't write legislation or pass it himself. the founders would have been shocked to hear congressional leaders talking this way. but put that aside. mcconnell basically said to reid i can't help on this one. how did harry reid respond? this way. >> speaker boehner should call members of the house back to...
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nobody wants the taxes on the 98% of the american people to go up. i think we can act quickly to take care of that. >> to me it makes like there is no way there will be a deal done unless there 230 tom coles. >> it's funny that you see tom cole saying i want to come back to washington, d.c. tomorrow because i think boehner -- tom said absolutely not. they are this close to the deadline, there is no real idea of what's happening. these are our elected leaders. >> the video clip you may want to play tomorrow is kick the can down the road from republicans and democrats and the house and senate. it's the phrase du jour to that conveys no action. it's a sad state and here we are. >> congressman cole is wrong in saying nobody wants to see middle class taxes go up. nobody wants to see themselves getting blamed. that's the real dynamic. nobody is attached to the taxes in d.c. we'll be back with our l in a bit. now trivia question. the answer, maryland junior senator ben cardin. he spent 20 terms in the house before becoming a senator. that's a good chunk of
nobody wants the taxes on the 98% of the american people to go up. i think we can act quickly to take care of that. >> to me it makes like there is no way there will be a deal done unless there 230 tom coles. >> it's funny that you see tom cole saying i want to come back to washington, d.c. tomorrow because i think boehner -- tom said absolutely not. they are this close to the deadline, there is no real idea of what's happening. these are our elected leaders. >> the video clip...
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Dec 29, 2012
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democrats will say they need that much in taxes, too. and because they've already raised rates, they got those middle class tax cuts extended, and the rich ones expired, they'll be open to do hitting through tax reform, which will be easier for republicans to swallow. let's say they do get the one to one match. that will be an $800 billion tax increase for a $1.4 trillion revenue increase in total. so democrats could easily end up when all of this is said and done with more revenue than president obama was asking for a week ago. and it will happen if it happens, because over and over and over and over again, john boehner and the house republicans could not take yes for an answer. they had to say no to this president. so they kept delaying until they were weaker. they pushed negotiations from 2011 where they were very strong, until 2012, right after the president had won re-election, and now they're pushing to to 13, after the fiscal cliff hits and they get blamed. it is an odd way to negotiate. to get one republican view on what will com
democrats will say they need that much in taxes, too. and because they've already raised rates, they got those middle class tax cuts extended, and the rich ones expired, they'll be open to do hitting through tax reform, which will be easier for republicans to swallow. let's say they do get the one to one match. that will be an $800 billion tax increase for a $1.4 trillion revenue increase in total. so democrats could easily end up when all of this is said and done with more revenue than...
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because they know that we don't want to increase taxes. so i do think everyone coming toe, and it's going to take everyone, the president, the vice president, the house and sena senate. >>> are you saying there's several dozen that did not support plan b, they were not looking at this practically? >>> i agree with them. however, we're at a point where we will not get what we think is right for our economic and country, because we don't control government. so we've got to work within the system we have. i think 250,000 as a threshold is way too low. we can't do that to people who have a lot of expenses. we need to up that amount that president obama wants to raise taxes on. >> he was putting it at 400,000 senator, i want to move to the issue of guns. we heard what ray lapierre said earlier. he was singling out one of your colleagues. i want you to listen to part of his interview. >> you could ban all diane fine stein, done whatever you said to. she had insure bean and columbine occurred. >> is the revival of that ban, is that going to pass?
because they know that we don't want to increase taxes. so i do think everyone coming toe, and it's going to take everyone, the president, the vice president, the house and sena senate. >>> are you saying there's several dozen that did not support plan b, they were not looking at this practically? >>> i agree with them. however, we're at a point where we will not get what we think is right for our economic and country, because we don't control government. so we've got to work...
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Dec 27, 2012
12/12
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the bush tax cuts will expire. everyone, even republicans know if we go over the cliff, the bush tax cuts will be restored for at least 98% of americans. payroll taxes will go back to normal in 2013. the payroll tax cut was always intended to be a temporary measure. the alternative minimum tax would hit middle class americans. year after year, this has been fixed by lawmakers and like everything else notice fiscal cliff, it can be done retroactively. the harshest effects of spending cuts could be modified in the first month or two of 2013. in fact, the defense department, the irs and other government agencies are planning no immediate changes because they're anticipating some kind of deal. that leaves the unemployed, extended unemployment insurance will expire immediately if we go over the cliff. a deal later in january could theoretically restore extended benefits, the immediate damage will have already been done. for many people, this is all an interesting charade. but for the unemployed it's the real deal. get y
the bush tax cuts will expire. everyone, even republicans know if we go over the cliff, the bush tax cuts will be restored for at least 98% of americans. payroll taxes will go back to normal in 2013. the payroll tax cut was always intended to be a temporary measure. the alternative minimum tax would hit middle class americans. year after year, this has been fixed by lawmakers and like everything else notice fiscal cliff, it can be done retroactively. the harshest effects of spending cuts could...
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Dec 28, 2012
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the payroll taxes is going away. making sure that -- things like unemployment insurance, huge stimulus for the economy, one of the highest multipliers, if that was gone we would have -- you know, we would be dumping back into another recession the president is a fan of abraham lincoln but creating a civil war is hyperbolic even for charles krauthammer. where is that guy? can we sign him up? where is he lurking now? the reality is this man has been willing to compromise to the chagrin of those progressives on and on the left so much of the political capital he's generated as a result of his re-election, again, in deference to the common good. he's looking out for the american people but the problem is here that the republicans to -- borrow the phrase here, at gunpoint. literally have us with -- if we want assault bans, let's ban the assault of the right-wing element of the conservative party against president obama by holding hostage american interests here. >> they got enough of that last year and clearly haven't. >>
the payroll taxes is going away. making sure that -- things like unemployment insurance, huge stimulus for the economy, one of the highest multipliers, if that was gone we would have -- you know, we would be dumping back into another recession the president is a fan of abraham lincoln but creating a civil war is hyperbolic even for charles krauthammer. where is that guy? can we sign him up? where is he lurking now? the reality is this man has been willing to compromise to the chagrin of those...
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Dec 26, 2012
12/12
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. >> reporter: if congress doesn't oaks spire tax cuts in day, middle income earners will owe $2,000 extra a year. consumers are predicted to cut back in automotive, apparel and entertainment. >> once people decide to cut back on that, the effect is dramatic. >> reporter: the national retail federation says retailers support 1 in 4 american jobs and if the downward trend intensify, those jobs would be at risk. >> if retailers stop creating job, the economy as a whole will stop creating jobs. >> reporter: the wait is e excruciating. president obama visited hawaii after talks on capitol hill. they were $200 billion apart on a deal. >> the president was $2200 billion higher on revenues and speaker boehner, $200 billion on spending cuts. >> if you get 80% of what you want, that's a pretty good day. >> reporter: tough decision ahead, six days left. >> lawmakers are saying they will likely take on tax reform and spending cuts again in the new year when the debt ceiling debate heats up. richard, back to you. >> looks like they will be working over the new year. thanks for your time. >>> a n
. >> reporter: if congress doesn't oaks spire tax cuts in day, middle income earners will owe $2,000 extra a year. consumers are predicted to cut back in automotive, apparel and entertainment. >> once people decide to cut back on that, the effect is dramatic. >> reporter: the national retail federation says retailers support 1 in 4 american jobs and if the downward trend intensify, those jobs would be at risk. >> if retailers stop creating job, the economy as a whole...
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Dec 30, 2012
12/12
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that we're talking about, whether it's something called the alternative minimum tax or the estate tax or extending the current bush-era income tax cuts, all of them cost money. all of them mean we have less revenue to support the operations of government, so if going forward we're going to reach a balance, where we both cut spending and raise revenue, we have to achieve the right balance of those, so if there are folks in the other party, the republican party, who feel strongly that we should not allow income tax breaks of the last decade to continue, that's fine. i think they simply need to be willing to balance that with some of the democratic priorities like extending unemployment insurance benefits for nearly 2 million unemployed americans who will lose them tomorrow. >> thank you senator chris coons for joining us. >> thank you. >> coming up, former president george h.w. bush is out of icu, and the how the oak ridge boys may have helped lift his spirits. >>> and with less than 30 hours to go before the fiscal cliff, we're watching capitol hill for any kinds of a deal today. you'r
that we're talking about, whether it's something called the alternative minimum tax or the estate tax or extending the current bush-era income tax cuts, all of them cost money. all of them mean we have less revenue to support the operations of government, so if going forward we're going to reach a balance, where we both cut spending and raise revenue, we have to achieve the right balance of those, so if there are folks in the other party, the republican party, who feel strongly that we should...